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Possible Bearish Inside Day Candle Pattern Detected for York Water (NASDAQ:YORW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in York Water (NASDAQ:YORW) based on the price action in the company's shares. Yesterday's price range of $38.40 and $39.55 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of York Water may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, York Water share prices have been bracketed by a low of $19.69 and a high of $39.86 and closed yesterday at $39.30, 100% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.3%.

York Water (NASDAQ:YORW) defies analysts with a current price ($39.30) 35.1% above its average consensus price target of $25.50. The stock should find initial support at its 50-day moving average (MA) of $29.76 and further support at its 200-day MA of $24.98.

The York Water Company impounds, purifies, and distributes water throughout York County, Pennsylvania.

SmarTrend is monitoring the recent change of momentum in York Water. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of York Water in search of a potential trend change.

Keywords: bearish am inside day candle york water

Ticker(s): YORW